DALLAS-CBRE has been picked as the exclusive marketer for 1700 Pacific, a trophy office tower located in Dallas' revitalized Central Business District.
The 49-story class A office building is located adjacent to the Main Street Corridor of downtown Dallas, where redevelopment activity is being anchored by new retail, residential and hotel developments. The landmark building has nearly 1.4 million rentable square feet, an underground parking garage and an off-site garage connected to the building via air-conditioned sky bridges.
CBRE was retained by the seller Berkeley First City, L.P., an affiliate of Berkeley Investments.
With a current occupancy rate of approximately 50 percent, 1700 Pacific presents one of the most compelling value-add opportunities in the nation. The property is anchored by Akin Gump Strauss Hauer & Feld LLP, an Am Law 100 firm; the luxury retailer Neiman Marcus, which was founded in downtown Dallas more than 100 years ago; and APEX Clearing Corporation, a technology services company with its corporate headquarters at 1700 Pacific.
The property has a state-of-the-art fitness center, a Chase Bank branch and one of the largest food courts in downtown Dallas, connected to nearby buildings through the tunnel system.
One of Downtown's most distinctive buildings, 1700 Pacific combines world-class architecture with superior materials and quality construction. Bordered by Pacific Avenue, St. Paul Street, Ervay Street and Elm Street, the property is within two blocks of two DART light-rail line stations and offers convenient access to all of downtown's amenities, including the revitalized Stone Street Gardens and Main Street District.
John Alvarado, Gary Carr and Eric Mackey will represent Berkeley Investments.
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